Quick Facts
Bitcoin’s next chapter may unlock broader functionality, from programmable use cases to more nuanced messaging that reaches far beyond crypto-native circles.
Beyond Digital Gold
The notion that Bitcoin is “digital gold” has been a central narrative in the cryptocurrency space for years. As a store of value, Bitcoin has attracted a dedicated following of believers in scarcity, decentralization, and self-sovereignty. However, as institutional interest grows, geopolitics shift, and new layers emerge on Bitcoin’s stack, it’s time to reevaluate this narrative and explore the potential for Bitcoin to evolve into something more.
The Regime Shift
Held’s perspective is deeply tied to the current regulatory landscape. With US President Donald Trump openly backing Bitcoin and reportedly owning it himself, Held sees a significant shift in the tone and approach of government agencies.
The notion that a US President, long associated with anti-regulatory rhetoric, is embracing Bitcoin is a significant departure from the past.
The Rise of DeFi on Bitcoin
Held and Jenkinson are proponents of building decentralized finance (DeFi) tools on top of Bitcoin, functionalities traditionally associated with blockchains like Ethereum or Solana.
If we could bring DeFi back to Bitcoin, then Bitcoin could utilize not just spot speculation… but these other speculative games then would allow bitcoin to grow even faster.
Overcoming Tensions
Jenkinson echoed Held’s sentiments, highlighting the potential for Bitcoin to be used as a base layer for DeFi applications.
This tension between “Bitcoin puritans” and more moderate voices is not new.
The Next Step
As we move forward, it’s essential to recognize that Bitcoin’s value proposition is no longer solely tied to its status as a store of value.
The asset’s potential extends beyond the realm of pure speculation and into the realm of programmable use cases, staking, and lending.
Ultimately, the future of Bitcoin is about innovation, adaptation, and growth. As we navigate this next chapter, it’s crucial to recognize the potential for Bitcoin to evolve and expand its scope, all while maintaining its core values.
